Consent to let

304edge

Thanks Annisele, for your comments too

I reread all the posts (thanks to all), and it looks like this really is a grey decision. Reminds of law shows where you can argue your case and sail between the lines. It's an interesting dilemma I guess it falls back to me, to make a choice to say yes or no.

One last question to all, is it wise to talk to the lender in cases like these ( or perhaps on the off chance, has someone inquired previously with their lenders about serviced lets), or will it open a can of worms. Just for future reference.
Thx

G_M

304edge wrote: »

...., is it wise to talk to the lender in cases like these ( or perhaps on the off chance, has someone inquired previously with their lenders about serviced lets), or will it open a can of worms. Just for future reference.
Thx

Depends on your motive for asking!

They will either say

* no problem. Go ahead
* no way. Prohibited
* or give some legal definition of what's permitted that still leaves you in your 'grey area'...... but having raised the issue it will be more in their eye-line

camptownraces

G_M wrote: »

Sounds like the EA has gone back to the company and explained, and the company has nominated an individual to rent the place.

Expect individuals to be coming/going during the 12 months.

Remember, a tenancy is not an AST just because it says 'AST' at the top of the contract. It's the reality of the facts that determine the legal tenancy type.

Call me cynical, but I don't trust this EA (however 'reputable') and don't trust this asurance.

Another tenant will come along. Better to get the right tenant even if you lose a months rent waiting.

But it's your decision..... good luck!

G_M's advice is spot on.

It's not clear where the OP's property is, but in London there is a big racket in "company lets" to firms, who in turn rent properties outs as "serviced apartments".

These properties end up as overcrowded dwellings, usually the promise of "services" is not met, and the occupants seem to be deliberately selected as being unlikely to know the law of E&W regarding tenant's rights.

Don't touch with a barge pole.

304edge

Main reason was to obtain clarity as it's an interesting problem. But you sum it up quite elegantly.

silvercar

Interesting thoughts.

If it was all legit and the company just wanted to take on a property to house employees at various times of the year, it would be to your advantage. The property would be used less, the company would oversee its condition, it would be subject only to contract law rather than the more onerous AST obligations.

304edge

I know, this was the reason for the post as I tried hard to get insight from other areas and there was practically nothing. This site from all the posters/ members has been THE most valuable source of info.

My CTL was quite confusing since the language of the CTL is limiting subletting not serviced or holiday letting, one May argue that us a form of subletting depending on where you stand.

Plus I didn't want to unfairly discriminate the potential candidate whose portfolio was all high end serviced houses/apt.

Of course as the LL I'm human I would like it filled safely without problem or breaking the terms of CTL. Serviced Apt seems to be a huge thing for the future so its nice to get as much insight now as it may pop up again.

But as you said if it's legit which I interpret as 'is my lender going to be ok with it?' That I don't know.

Thx for the response.

silvercar

I thought the banning of sub letting on a CTL was to stop you as the owner getting a mortgage based on rental income and living in it yourself and subletting rooms ie it was to prevent people getting round the income requirements on mortgages for owner occupiers by getting a mortgage for letting and then living in it and sub letting rooms.

But that is just my opinion.

304edge

Hi Silvercar, that is of interest never knew that was the reason, always presumed it was for to prevent the tenant letting out the place. Goes to show detailed runnings of these CTL is quite detailed. I guess mortgage advisors and banks or underwriters would have the most info then.